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August 23, 2017 - Press Releases
ReDev Properties Ltd. Announces Unconditional Sale of Daly Grove Centre, Edmonton Alberta

TORONTO, Aug. 23,  2017 /CNW/ -  Richard Crenian, President of ReDev Properties Ltd., is pleased to announce the unconditional agreement to sell Daly Grove Centre located at 4205-4259 23rd  Avenue,  Edmonton, Alberta, Canada. CBRE,  Edmonton  was engaged as the broker for the vendor. Daly Grove Centre, purchased in 2007 has over 33,000 square feet of rentable retail and office space in  Edmonton'sresidential and family-friendly Mill Woods area. The property is currently fully leased with a dynamic mix of local and national tenants, ranging from medical care facilities to convenience food stores. "Daly Grove Centre has been a valuable product for us," said ReDev Properties Founder and President  Richard Crenian. "The centre hosts secure and stable tenants making the property a strong cash yielding asset. We're sad to part ways with the centre, but believe our group has maximized the potential of the property." Daly Grove Centre is the 14th  asset of ReDev Properties' portfolio to have been acquired, owned, operated and sold since 2001. This the second property to close in 2017. ReDev continues to actively search for similar assets to acquire and manage for its portfolio and welcomes any inquires. About  ReDev Properties  Ltd. ReDev Properties Ltd. is a Canadian commercial real estate asset manager. Since 2001, the company has purchased, owned and managed numerous commercial real estate properties in  Canada. ReDev Properties locates existing commercial real estate properties in markets that will ensure assets retain, and increase in value for necessary stability and future growth. The company's founder and President,  Richard Crenian  has managed over  two billion dollars  in real estate assets since 1981.